Bowen Hanes & Co. Inc. Has $5.95 Million Stake in Automatic Data Processing, Inc. $ADP

Bowen Hanes & Co. Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 39.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,263 shares of the business services provider’s stock after selling 18,804 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Automatic Data Processing were worth $5,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADP. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $28,000. Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing in the 4th quarter valued at $33,000. Finally, High Point Wealth Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $34,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.1%

Shares of NASDAQ ADP opened at $242.88 on Friday. The firm has a market capitalization of $97.09 billion, a PE ratio of 22.66 and a beta of 0.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98. The firm’s 50-day moving average is $230.90 and its 200-day moving average is $224.34.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ADP shares. Stifel Nicolaus increased their price objective on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. Cantor Fitzgerald boosted their target price on shares of Automatic Data Processing from $244.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday. Argus lowered their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Robert W. Baird cut their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $256.00.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.